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An update from ASTI Holdings Limited ( (SG:575) ) is now available.
ASTI Holdings Limited has updated the market on litigation involving its subsidiary Telford Shanghai and its service provider, Shanghai Yi Qing Manpower Management Ltd, relating to employment-related contributions in China.
The Shanghai court has ordered Telford Shanghai to pay outstanding pension fund contributions, related interest and court fees totalling about RMB 31,538, but rejected the plaintiff’s much larger claim for RMB 51 million in alleged losses due to lack of contractual and legal basis; both parties retain the right to appeal, and ASTI has said it will provide further updates if there are material developments.
More about ASTI Holdings Limited
Current Market Cap: S$9.17M
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